Zacks: Brokerages Expect Weingarten Realty Investors (NYSE:WRI) to Post $0.51 EPS

Wall Street analysts predict that Weingarten Realty Investors (NYSE:WRI) will announce earnings per share (EPS) of $0.51 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Weingarten Realty Investors’ earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.53. Weingarten Realty Investors reported earnings of $0.53 per share during the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 29th.

On average, analysts expect that Weingarten Realty Investors will report full year earnings of $1.76 per share for the current year, with EPS estimates ranging from $1.48 to $1.91. For the next financial year, analysts expect that the firm will post earnings of $1.91 per share, with EPS estimates ranging from $1.83 to $1.98. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.10). Weingarten Realty Investors had a return on equity of 17.23% and a net margin of 67.05%. The firm had revenue of $108.05 million for the quarter, compared to analysts’ expectations of $116.94 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis.

A number of analysts have issued reports on WRI shares. BTIG Research raised their target price on Weingarten Realty Investors from $40.00 to $50.00 in a report on Thursday, June 25th. SunTrust Banks raised their target price on Weingarten Realty Investors from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 15th. JPMorgan Chase & Co. raised their target price on Weingarten Realty Investors from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, June 1st. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, ValuEngine lowered Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.21.

WRI traded down $0.07 during midday trading on Tuesday, reaching $18.93. The company’s stock had a trading volume of 895,947 shares, compared to its average volume of 1,306,526. The stock has a market cap of $2.43 billion, a P/E ratio of 7.70, a PEG ratio of 4.34 and a beta of 1.36. The company has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $23.04. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 1.19. Weingarten Realty Investors has a twelve month low of $12.21 and a twelve month high of $32.17.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, June 5th. Weingarten Realty Investors’s payout ratio is presently 34.29%.

In other Weingarten Realty Investors news, Director Stephen A. Lasher sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $23.22, for a total value of $812,700.00. Following the sale, the director now directly owns 82,692 shares in the company, valued at $1,920,108.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is owned by insiders.

Several large investors have recently modified their holdings of WRI. JPMorgan Chase & Co. grew its holdings in shares of Weingarten Realty Investors by 22.2% in the 1st quarter. JPMorgan Chase & Co. now owns 8,586,762 shares of the real estate investment trust’s stock worth $123,906,000 after purchasing an additional 1,561,367 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of Weingarten Realty Investors by 27.1% during the 1st quarter. Cohen & Steers Inc. now owns 4,356,393 shares of the real estate investment trust’s stock worth $62,863,000 after purchasing an additional 928,254 shares in the last quarter. Morgan Stanley increased its position in shares of Weingarten Realty Investors by 90.0% during the 1st quarter. Morgan Stanley now owns 2,800,162 shares of the real estate investment trust’s stock worth $40,407,000 after purchasing an additional 1,326,086 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Weingarten Realty Investors by 20.5% during the 1st quarter. Geode Capital Management LLC now owns 2,577,542 shares of the real estate investment trust’s stock worth $37,854,000 after purchasing an additional 438,134 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Weingarten Realty Investors by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,228,735 shares of the real estate investment trust’s stock worth $32,160,000 after purchasing an additional 184,913 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.

Weingarten Realty Investors Company Profile

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2019, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 177 properties which are located in 17 states spanning the country from coast to coast.

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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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